Semiconductors & Electronics Industry Power Transformer Market 2024

Your Catalyst To a Lucrative Business
Power Transformer Market Share, Size, Analysis, Growth, Trends
and Forecasts to 2024 | Hexa Research
" The power transformer market of Asia Pacific
reported for around USD 7 Billion in 2015 and is likely
to witness major gains by 2024."
The global Power Transformer Market was projected over USD 11, 295 units in 2015. It would grow at nearly
6.1 percent CAGR during 2016 to 2024. The market, with regards to size, was over USD 18 billion in 2015. It
finds usage across mining, chemical plants, etc. Wider demand for these transformers from the aforementioned
applications should drive the market in the forecast period (2016 to 2024).
Demand for electricity from developing & developed nations coupled with higher infrastructural spending is
likely to be the key market propeller. Supportive ‘smart grid’ policies have furthered the demand for smart
meters, thus promoting market sales. Moreover, regulations for the installation of sophisticated ‘power
transformers’ can raise market demand in the near future.
In addition, improvisations in existing power grids for enhancement of ‘energy efficiency’ and reduction of
‘losses’ may assist market demand. Conventional transformers are unsuitable for meeting technical & ecological
demands. They could be substituted with bio-friendly products due to their innovative & safety features.
Browse Details of Report @ https://www.hexaresearch.com/research-report/power-transformer-market
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